Outlook 07/29

Context: The first look at U.S. GDP for the second quarter arrives later this morning. Economists expected 2.6% growth to be reported, but U.S. economy disappoints with 1.2% growth in Q2.

Plan: Globex is balanced, moving in value within 2151-2170 range. It's summertime and seems another open auction, so first idea is wait for more clues. If market chops early on, I'll wait for the break, but if market chops after initial balance, I'll be done for the day.

Value References (/ESU6): VAH 2166.50 POC 2164.50 VAL 2157

Economic Data (ET): 9:30 PM Fed's Williams; 9:45 Chicago PMI; 10:00 Consumer Sentiment; 1:00 PM Baker-Hughes Rig Count.

Notice: Trading process and plan are based on the Auction Theory.

Warning: Trading Futures involves substantial risk of loss and is not suitable for all investors. The past performance is not necessarily indicative of future results. All the information on this website is for educational purposes and is not intended to provide financial advice.